Genolution Inc. (XKON:A225220) announced a private placement of 185,185 registered convertible and redeemable preferred stock at a price of KRW 8,100 per share for gross proceeds of KRW 1,499,998,500 on July 5, 2018. The transaction involves participation from new investor QCP JB Technology Valuation Private Equity Fund, a fund co-managed by Q Capital Partners Co., Ltd. (KOSDAQ:A016600) and JB Asset Management Co., Ltd. The shares are issued through a third party allotment method. The shares are issued at a premium.

The shares are redeemable between July 14, 2021 and July 14, 2018 and convertible into common share of the company between July 15, 2018 and July 13, 2028. The deal is expected to be closed on July 13, 2018. The transaction has been approved by the shareholder of the company.